Tag: $Novartis

 Novartis shareholders on Friday voted in favour of spinning off the Swiss company’s generic-drugs business Sandoz, with investors holding 99.7% of the represented capital supporting the complete separation.

FRANKFURT, July 18 (Reuters) – Novartis (NOVN.S) on Tuesday raised its full-year earnings forecast for the second time on strong drug sales and mapped out the planned separation and stock market debut of its generic medicines division Sandoz for early October.

Chinook Therapeutics stock surged 66% in premarket trading Monday after Swiss pharmaceutical company Novartis agreed to buy the biopharma company for up to $3.5 billion.